How Is the Early Majority Section of Consumers Different from the Late

question 54

Multiple Choice

How is the early majority section of consumers different from the late majority section?

• A) While the early majority makes up the mass market, the late majority is the smallest market segment.
• B) The late majority enters the market in the decline stage, whereas the early majority enters the market during the maturity stage.
• C) Although the early majority is confident in their ability to master a new technology, the late majority is not.
• D) While the late majority prefers buying from unknown new ventures, the early majority relies only on well-established brands.

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Definitions:

Foreign Trade

The exchange of goods, services, and capital between countries or territories, involving imports and exports.

Comparative Advantage

The capacity for a person, business, or nation to generate a product or service with a smaller opportunity cost compared to its rivals.

Competition

Rivalry among business firms for resources and customers.

Absolute Advantage

The ability of a country, individual, company, or region to produce a good or service more efficiently than its competitors when using the same amount of resources.